They’re ba-a-a-a-a-a-ack. The bulls are still buying the dips and the 4 day cycle that we noted weeks ago continues to repeat like clockwork. The low was right on schedule on Friday. The next high is due late tonight on the hourly chart of the ES, 24 hour S&P futures.
The last pullback established a larger triangle pattern, which if prices remain rangebound pushes the Dick Trickle Memorial Point out to February 20. An earlier breakout either way could trigger an explosive move.
For moron the markets, see:
- Swing Trade Screen Picks – Meat Grinder Prevails February 13, 2023
- Rally Looks Great But Don’t Chase It Now! Here’s Why February 13, 2023
- US Treasury Throws A Shocker to Reverse the Stock Market Outlook February 9, 2023
- Swing Trade Screen Picks – Here are Two on the Buy Side that Stick Out February 6, 2023
- Rally Looks Great But Don’t Chase It Now! Here’s Why February 6, 2023
- SOS – Goldtanic Hits Iceberg, Ship Sinking February 5, 2023
- Composite Liquidity Should Be Bearish, Here’s Why It’s Not Right Now January 26, 2023
- Long Live the Bear. The Bear is Dead January 17, 2023
- A Funny Thing Happened on the Way to the Debt Ceiling January 16, 2023
- Withholding Taxes Fell Sharply in January February 3, 2023
If you’re serious about the underlying forces of supply and demand that drive the markets, join me!
